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Current Attempt in Progress Pina Colada Corp. uses a perpetual inventory system. The company had the following inventory transactions in April: April 3 Purchased merchandise from DeVito Ltd. for $25,760, terms n/30, FOB shipping point. The appropriate company paid freight costs of $644 on the merchandise purchased on April 3. Purchased supplies on account for $4,600. 6 7 8 30 Returned merchandise to DeVito and received a credit of $3,220. The merchandise was returned to inventor future resale. Paid the amount due to DeVito in full. Record the above transactions in Pina Colada's books. (List all debit entries before credit entries. Credit account titles are automa indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and ente amounts.)

Current Attempt in Progress Pina Colada Corp. uses a perpetual inventory system. The company had the following inventory transactions in April: April 3 Purchased merchandise from DeVito Ltd. for $25,760, terms n/30, FOB shipping point. The appropriate company paid freight costs of $644 on the merchandise purchased on April 3. Purchased supplies on account for $4,600. 6 7 8 30 Returned merchandise to DeVito and received a credit of $3,220. The merchandise was returned to inventor future resale. Paid the amount due to DeVito in full. Record the above transactions in Pina Colada's books. (List all debit entries before credit entries. Credit account titles are automa indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and ente amounts.)

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Current Attempt in Progress Pina Colada Corp. uses a perpetual inventory system. The company had the following inventory transactions in April: April 3 Purchased merchandise from DeVito Ltd. for $25,760, terms n/30, FOB shipping point. The appropriate company paid freight costs of $644 on the merchandise purchased on April 3. Purchased supplies on account for $4,600. Returned merchandise to DeVito and received a credit of $3,220. The merchandise was returned to invento future resale. 30 Paid the amount due to DeVito in full. 6 7 8 Record the above transactions in Pina Colada's books. (List all debit entries before credit entries. Credit account titles are automa indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and ente amounts.)
Transcribed Image Text:Current Attempt in Progress Pina Colada Corp. uses a perpetual inventory system. The company had the following inventory transactions in April: April 3 Purchased merchandise from DeVito Ltd. for $25,760, terms n/30, FOB shipping point. The appropriate company paid freight costs of $644 on the merchandise purchased on April 3. Purchased supplies on account for $4,600. Returned merchandise to DeVito and received a credit of $3,220. The merchandise was returned to invento future resale. 30 Paid the amount due to DeVito in full. 6 7 8 Record the above transactions in Pina Colada's books. (List all debit entries before credit entries. Credit account titles are automa indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and ente amounts.)
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